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MOST NOTEWORTHY: Super Micro Computer, Corning and Vertex Pharmaceuticals were today's noteworthy initiations:
- Merriman believes Super Micro Computer (NASDAQ: SMCI) is a unique value in the Data Center sector and thinks it could trade to a range of $10-$12 in the near-term. Shares were initiated with a Buy rating.
- Citigroup started Corning (NYSE: GLW) with a Hold rating and $23.50 target. The firm sees limited upside given the risks to LCD glass demand.
- Vertex Pharmaceuticals (NASDAQ: VRTX) was assumed with an Overweight rating and $57 target at Thomas Weisel, as they are positive on its telaprevir opportunity.
OTHER INITIATIONS:
- Lehman reinitiated Cablevision (NYSE: CVC) with an Equal Weight rating.
- Silicon Motion (NASDAQ: SIMO) was initiated at Cowen with an Outperform rating.
- Brinks (NYSE: BCO) was initiated with a Positive rating at Susquehanna.
Collectible Investments: 100-year old $20 gold piece up 65% in past five years
Best Buy (BBY) may end up getting a lump of coal in its stocking
Closing Bell: Dow closes below 8,000; C, ETFC, FNM, GM, LVLT, YHOO all got hammered
